Prime Minister Najib Abdul Razak may have promised night market traders a soft loan of RM100 million in Budget 2014 but the money is no where to be found, claims a DAP state assemblyperson.
Ayer Keroh state assemblyperson Khoo Poay Tiong said he sought out the scheme for his constituents, only to be informed by Bank Simpanan Nasional (BSN) that the money has yet to be rolled out.
"Since the budget was approved in Parliament December last year, to this day, the fund has not started.
"I asked BSN about applying for this scheme but they said they have not received any allocation to start the scheme," Khoo (left) toldMalaysiakini.
In Budget 2014, Najib announced a Night Market Traders Entrepreneur Scheme, with an allocation of RM100 million under BSN.
The fund was intended to provide soft loans of up to RM30,000 to night market traders, at an interest rate of four percent.
"Where has the promised RM100 million gone to? Is this another broken promise?" Khoo asked.
This comes as the government asked Parliament today for a supplementary budget of RM4.112 billion, on top of the RM264.2 billion that was approved last year for Budget 2014.
'Generous loans for businesspeople'
Khoo said the government appeared to have difficulty in rolling out a loan scheme for night market traders, but had no qualms with having Bank Rakyat, another government-owned bank, give out an interest-free loan of RM32 million to businessperson Deepak Jaikishan.
Deepak (left) had previously professed to have close ties with Najib and his wife, Rosmah Mansor.
"If you borrow RM32 million, at the current base lending rate of 6.6 percent and a 0.5 percent profit for the bank, the interest alone will come to RM12 million.
"But he (Deepak) is getting it for free, that means Bank Rakyat is losing RM 12 million," said Khoo, who is a former banker.
In contrast, he said if the night market loan scheme is ever implemented, the borrowers would still have to pay a four percent interest.
"Why can one person get RM32 million interest-free over a period of 10 years, but night market traders cannot get the promised RM100 million loan scheme?" Khoo asked.
Domestic Trade, Cooperatives and Consumerism Minister Hasan Malek has defended the loan to Deepak as being "above board", after former Bank Rakyat chairperson Sabbaruddin Chik accused the minister of interference to make the generous loan be given.
Malaysiakini has contacted BSN and the Finance Ministry for comment but has yet to receive a reply.
Ayer Keroh state assemblyperson Khoo Poay Tiong said he sought out the scheme for his constituents, only to be informed by Bank Simpanan Nasional (BSN) that the money has yet to be rolled out.
"Since the budget was approved in Parliament December last year, to this day, the fund has not started."I asked BSN about applying for this scheme but they said they have not received any allocation to start the scheme," Khoo (left) toldMalaysiakini.
In Budget 2014, Najib announced a Night Market Traders Entrepreneur Scheme, with an allocation of RM100 million under BSN.
The fund was intended to provide soft loans of up to RM30,000 to night market traders, at an interest rate of four percent.
"Where has the promised RM100 million gone to? Is this another broken promise?" Khoo asked.
This comes as the government asked Parliament today for a supplementary budget of RM4.112 billion, on top of the RM264.2 billion that was approved last year for Budget 2014.
'Generous loans for businesspeople'
Khoo said the government appeared to have difficulty in rolling out a loan scheme for night market traders, but had no qualms with having Bank Rakyat, another government-owned bank, give out an interest-free loan of RM32 million to businessperson Deepak Jaikishan.
Deepak (left) had previously professed to have close ties with Najib and his wife, Rosmah Mansor."If you borrow RM32 million, at the current base lending rate of 6.6 percent and a 0.5 percent profit for the bank, the interest alone will come to RM12 million.
"But he (Deepak) is getting it for free, that means Bank Rakyat is losing RM 12 million," said Khoo, who is a former banker.
In contrast, he said if the night market loan scheme is ever implemented, the borrowers would still have to pay a four percent interest.
"Why can one person get RM32 million interest-free over a period of 10 years, but night market traders cannot get the promised RM100 million loan scheme?" Khoo asked.
Domestic Trade, Cooperatives and Consumerism Minister Hasan Malek has defended the loan to Deepak as being "above board", after former Bank Rakyat chairperson Sabbaruddin Chik accused the minister of interference to make the generous loan be given.
Malaysiakini has contacted BSN and the Finance Ministry for comment but has yet to receive a reply.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.